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Mortgage Market Update 4/5/19

Mortgage rates inched lower Friday following the release of key employment data.  This morning, the Bureau of Labor Statistics reported the economy added 196,000 jobs in March, beating the consensus forecast for an increase of 170,000.  The Bureau also made upward revisions of 14,000 jobs to previous months.  Average hourly earnings, an indicator of wage growth, fell short of expectations.  Earnings were 3.2% higher than one year ago, down from 3.4% last month.  The Unemployment Rate remained at 3.8% as expected.  The mixed results indicated the economy remains in growth mode while inflation remains contained.  Stocks moved modestly higher.  No other key data will be released today.

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